How should we judge a government?

In Malaysia, if you don't watch television or read newspapers, you are uninformed; but if you do, you are misinformed!

"If you're not careful, the newspapers will have you hating the people who are being oppressed, and loving the people who are doing the oppressing." - Malcolm X

Never argue with stupid people, they will drag you down to their level and then beat you with experience - Mark Twain

Why we should be against censorship in a court of law: Publicity is the very soul of justice … it keeps the judge himself, while trying, under trial. - Jeremy Bentham

"Our government is like a baby's alimentary canal, with a happy appetite at one end and no
responsibility at the other. " - Ronald Reagan

Government fed by the people

Government fed by the people

Career options

Career options
I suggest government... because nobody has ever been caught.

Corruption so prevalent it affects English language?

Corruption so prevalent it affects English language?
Corruption is so prevalent it affects English language?

When there's too much dirt...

When there's too much dirt...
We need better tools... to cover up mega corruptions.

Prevent bullying now!

Prevent bullying now!
If you're not going to speak up, how is the world supposed to know you exist? “Orang boleh pandai setinggi langit, tapi selama ia tidak menulis, ia akan hilang di dalam masyarakat dan dari sejarah.” - Ananta Prameodya Toer (Your intellect may soar to the sky but if you do not write, you will be lost from society and to history.)

Friday, April 05, 2013

P GUNASEGARAM questions 1MDB's secrecy and sensibility in operation

1MDB was launched with much fanfare and Jho Low was portrayed as someone with all the right connections (especially with international glitterati like Paris Hilton) and with the magic touch. But then again, with financial matters, everything still boils down to accountability and bottom line. Every company needs revenue-generating assets or sales to keep going, and every loan needs to be repaid. There is no way any company can survive by borrowing more from B to pay A, if there is no genuine and sufficient incomes to cover at least the loan interest in the short term and the loan eventually.

"1MDB’s cloak-and-dagger style of operation with many unanswered questions and dubious dealings is very unbecoming of a sovereign fund which is supposed to to make strategic investments that will be of value to the country."

Why was the first bond issue of RM5 billion done with so much secrecy? ...
The joint-venture with PetroSaudi International Ltd. How come PetroSaudi put in an oil reserve in the Caspian Sea as part of the deal?...
On the exit from the JV with PetroSaudi - Why accept debt papers from PetroSaudi as payment?...
Why increase the debt to PetroSaudi even more to the extent of RM5.71 billion - more than the RM4.4 billion raised via the bond?...
The second bond of US$1.75 billion was made at very favourable terms to buyers and described as a mysterious placement. Why the secrecy?...
Is there a  plan to issue another US$3 billion bond as reported by Bloomberg?...
Why was there such a hurry to buy power assets? Is it to get some cash flow in? Why the overpayment?...
Jimah Energy Ventures Holdings - is there a plan to acquire this power asset for RM1.7 billion as reported?...
Why bring in foreign partners for the two main real estate developments - the RM27 billion Tun Razak Exchange (TRX) and the RM20 billion Sungai Besi airport land? This was on land obtained cheaply from the government. Why pass on benefits to a third party?...
Who is directly responsible for this series of highly questionable decisions by 1MDB? Are the 1MDB board and its advisory panel all fully aware of what is going on? If they are, why have they agreed to these?...

"If government companies and sovereign funds are to set an example for standards of corporate governance, transparency and accountability, it is very clear that 1MDB has failed on all accounts...."




Kamal said...

1MDB is the only hedge fund in the world guarantee by govertment.

Najib ans Rosmah and J Loo celebrating new year recenly by using 1 MD b money.

They chartered boeing 747 from. L A flrw in to Sydney to catch the irst sun rise then they Flew from Sydney to Les Vages to see the second sun rse,
All the expenses come from 1 MDB.

Ha ha ha

Hussein ABDUL HAMID said...

Aisehamn everybody busy writing...keep it up bro...hantam sama dia!

KoSong Cafe said...

Thanks bro. Hussein. Just imagine myself doing it on low budget, putting up with Maxis 1.5 GB (the other 1.5 GB meant for when I am asleep) which quota was used up after 2 weeks. I refuse to top up and am now being throttled and the effect was that I could open your email only after several attempts (Yahoo mail hanged).

From now until Election Day, I shall be posting anything which can hantam BN. Let's keep it up!